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Welcome back! Today we’re breaking down a wild mix of geopolitics 🌍, energy markets 🛢️, biofuels policy 🌽, and key ag fundamentals 🌾👇

🛢️ Oil Market Whiplash

Oil prices dropped sharply Monday as optimism grew that the Iran conflict could cool off. WTI crude plunged more than 10%, hitting its lowest level in nearly two weeks after President Trump signaled progress in talks and ordered a temporary pause on strikes. That said, the situation remains volatile—Iran denies direct talks, and attacks in the region continue. Bottom line: headlines are still driving massive swings in energy and commodity markets.

🌽 Biofuels Policy Incoming

The Trump administration is expected to roll out new biofuel blending quotas by month-end, likely tied to Friday’s White House agriculture event. EPA head Lee Zeldin confirmed updated Renewable Fuel Standard (RFS) requirements are coming soon, with more rulemaking to follow. Key issues include diesel volumes, RIN values, and blending mandates—plus ongoing debate over year-round E15. This is a big one for corn demand and ethanol margins.

🌾 Wheat Weather Watch

HRW wheat areas across the Plains remain dry, with little relief expected over the next 10 days. Kansas, Nebraska, Colorado, and the southern Plains are all under pressure, though longer-range models hint at rain returning. Current Kansas ratings sit at 46% good/excellent and 19% poor/very poor. Weather risk is building—but forecasts beyond a week are always shaky.

🚢 Strong Export Demand

US export activity was solid last week:

Corn shipments hit 1.7 mmt (strong vs. last year)
Soybeans came in at 1.1 mmt, with China taking 60%
Wheat exceeded expectations at 458k mt

Demand continues to hold up well, especially on the corn and soybean side.

🐖 China Demand Concerns

China’s hog sector is under serious pressure. Pork prices have collapsed to multi-year lows, and producer margins are shrinking fast. Weak consumer demand and rising feed costs are forcing Beijing to step in—cutting herd sizes and buying pork for reserves. This has major implications for global feed demand, especially soymeal.

🇧🇷 Brazil Harvest Update

Brazil’s soybean harvest is lagging, now at 68% complete vs. 80% last year. Dry weather helped recently, but rains are coming back into the forecast. Meanwhile, second crop corn planting is nearly finished at 97%. Timing and logistics here remain critical for global supply flows.

⚡ Flash Sales

USDA confirmed fresh demand:

102,000 mt of corn sold to Mexico (new crop)
161,120 mt of soybeans sold to Mexico (new crop)

Steady demand continues to show up on the daily wire.

👍 If you’re in agriculture, these moving pieces matter—energy, policy, weather, and global demand are all tightly connected right now.

One Trump Post = Trillions Moved...War or Peace??